In the near term, the index is expected to take support at 17,600, which has been holding quite well on every closing in the past six consecutive sessions, with resistance at the 18,000-18,250 zone
The momentum seems to be in favour of bulls but having consistent run-up for the last few days, some bouts of volatility and consolidation can be seen in coming sessions, before taking gradual march towards first 18,700-19,000 area
The Nifty50 is expected to trade within the range of 17,300-17,800 in the short term, and if it decisively gives a close above the upper band of the said range, then there could be a move towards the psychological 18,000 mark, experts said
Since last one month, Tinplate Company of India has made nice base near Rs 300 levels. Recently on daily scale, the stock confirmed a Bullish Inverted Hammer candlestick pattern exactly at the mentioned historical support and that is adding more confirmation of further upside in the counter.
Tata Metaliks disappointed street on July 15 as it reported 35.4 percent year-on-year decline in June quarter profit at Rs 19.6 crore on weak operating income
A positive opening is likely as Nifty Futures on Singaporean Exchange were trading over 13 points higher. The futures traded around 11,747-odd levels.
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 8 points or 0.07 percent. Nifty futures were trading around 11,381-level on the Singaporean Exchange.
The total income was up 61.6 percent at Rs 270.9 crore versus Rs 167.6 crore.